Indian Crude Steel Output Down by 2% in Nov'19

India crude steel output down by 2% in Nov'19- The nation's crude steel production accounted for 8.923 MnT in Nov'19, inched down by 2% as against 9.089 MnT in the preceding month.

However, on a yearly premise, the same slips by 3% in Nov'19 as compared to 9.192 MnT in Nov'18.

During Apr-Nov FY'20, the nation's crude steel production volume stood at 73.174 MnT, up by 1% against 72.510 MnT in Apr-Nov FY'19.

Finished steel exports decline in Nov'19- As per the released data, India's finished steel exports stood at 0.867 MnT during Nov'19, which declined by 9% as compared to 0.950 MnT in Oct'19.

However, on a yearly premise, the same spiked in Nov'19 in contrast with 0.482 MnT in Nov'18.

Indian steel mills exported significant quantities of HRC to Vietnam owing to sluggish sales in the domestic market.

During Apr-Nov FY'20, the nation's finished steel exports surged by 34% and accounted for 5.753 MnT in comparison with 4.308 MnT in a similar time frame of FY'19.

Indian finished steel imports slide down in Nov'19- India's finished steel imports tumbled by 32% to 0.429 MnT in Nov'19 over 0.629 MnT in the previous month.

Amid weak domestic demand and tedious buying, Indian flat steel imports witnessed a decline in Nov'19.

On a yearly premise, the same plunged by 37% in Nov'19 as compared with 0.681 MnT in Nov'18.

During Apr-Nov FY'20, the nation's finished steel imports declined by 5% and stood at 5.077 MnT in comparison with 5.361 MnT in a similar time frame of the previous fiscal.

India's finished steel consumption tumbles by 13% in Nov'19- India's finished steel consumption tumbled by 13% and stood at 7.411 MnT in Nov'19 as against 8.549 MnT in Oct'19.

Meanwhile, on a yearly premise, the same inched up by 1% in Nov'19 in comparison with 7.353 MnT in Nov'18.

During Apr-Nov FY'20, the nation's finished steel consumption moved up by 4% to 66.461 MnT as compared with 64.176 MnT in the corresponding time frame of the previous fiscal.